Decision Maker: Executive
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
This report provides the Executive with details of the actual revenue expenditure for 2017/18 for the General Fund and Housing Revenue and Repairs Account and seeks approval for the completion, in 2018/19, of the 2017/18 expenditure programmes set out in the briefing paper contained in the report.
The General Fund actual revenue expenditure for 2017/18 totals £8,104,773 which represents an overall underspend of £511,927 when compared to the revised budget.
However, it has not been possible to complete a number of expenditure programmes in 2017/18 and approval is sought to complete these programmes totalling £335,900 during 2018/19. When the use of the saving in 2017/18 to complete these programmes is taken into account, along with financing adjustments of £286, the net reported underspend for the year is £176,313.
The final figures for the Housing Revenue and Repairs Account (HRA) in 2017/18 show that, overall, the value of the HRA revenue reserve has reduced by £546,000 against a revised budget surplus of £904,000. This is mainly due to a higher than anticipated depreciation charge. A new Debt Repayment Fund reserve has been set up in this financial year and overall HRA Reserves have increased by £3.185 million.
RESOLVED that the Executive:
(a) approves the carry forward of £335,900 to fund the completion of the General Fund expenditure programmes in 2017/18, as contained in the report;
(b) approves that an overspend of £478,000 from the HRA Capital account is rolled forward to correct budget phasing to support the future programme in 2018/19; and
(c) notes the contents of the report.
Report author: Caroline Hancock
Publication date: 11/07/2018
Date of decision: 09/07/2018
Decided at meeting: 09/07/2018 - Executive
Effective from: 21/07/2018